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Account commissions and profits shall continue to be calculated as agreed upon or at market rates.
b.
Accounts shall be checked and classified and the procedures stipulated in the Rules thereon shall be taken according to the periods specified for each.
c.
Copies of documents and records of all the amounts and dues shall be kept as per the regulatory period of record-keeping.
d.
Detailed records of accounts shall be kept. Such records must include, as a minimum, the following:
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Customer full name as shown in the identification document.
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Customer ID number as shown in bank records.
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Amount of assets and time periods related thereto.
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Nature of customer assets (current accounts, investment deposits, remittances, etc.).
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The national address, residence address and contact numbers, if any.
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Bank account number, relationship number or the serial number in safe records, if any.
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Ownership certificate numbers, if any or relevant.
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Any other data about the customer, if available or necessary.
e.
Personal and financial data shall be kept by the bank in electronic records according to the technical specifications set by SAMA for easy future reference. A copy of such data shall be submitted to SAMA.
f.
Provisions containing the periods and procedures for freezing accounts and other funds mentioned in these Rules shall be added to contracts, agreements, account opening forms signed by customers, as well as account statements sent to customers.
g.
The role of the compliance department shall be supervisory at all phases and periods stated to ensure the fulfillment of the requirements of such accounts. In addition, rights shall be returned by the bank operation department.
